Mr. Shawn Howarth reports
ALLOYCORP ANNOUNCES EXTENSION OF LOAN FACILITIES
Alloycorp Mining Inc. has entered into agreements to extend the maturity dates of its existing loan facilities with Resource Capital Fund. Specifically, the agreements extend the $50-million (U.S.) bridge loan facility dated Nov. 18, 2014, among the company, Avanti Kitsault Mine Ltd. and Resource Capital Fund VI LP, the $50-million (U.S.) preconstruction loan facility dated Dec. 19, 2013, and amended on Dec. 31, 2014, among the company, Avanti Kitsault and RCF VI, and the $20-million (U.S.) bridge loan facility dated July 12, 2013, and amended on Dec. 31, 2014, among the company, Avanti Kitsault, Resource Capital Fund IV LP and RCF VI. The extension agreements provide that the maturity date of each facility will be extended initially to July 31, 2015, and may be further extended in one-month increments by RCF through and until Dec. 31, 2015.
No consideration will be payable by the company to RCF in connection with the extensions, and the extensions contain certain additional covenants of the company.
A copy of the extension agreements has been filed by the company on SEDAR.
We seek Safe Harbor.
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